St. Paul daily globe., 1887-12-02
The COMMERCIAL RECORD.
On the Opening Of the Chicago Board
Of Trade Yesterday Grain Markets
We're Booming.
Initial Prices Quickly Improved, and
the Volume Of Dealings Was
Very Heavy.
Transactions in the Financial Circles OF
Wall Street.-The General
Quotations.
Special 10 the Globe.

l.
wheat moderate in corn and oats and hght
in provisions The sentiment of the crowd
on the curb was bullish, and opening prices
were higher. The markets were 'steamlng
all day. but strong. broad and active. The
''fur caps" otherwise known as the "coun-
try'' seem to be in charge. Every nttle
while the longs Of all grades sell out their
speculative holdings and stand to one side 10
watch the crash, but up TO the present writ
ing it has not come. When especially heaVy
lines of property are thrown over depressions
occur. but the market quickly rallies and the
bulls and bears alike have to reacn hlgher
for stuff The market is something the
younger class of spectators cannot under
stand. They have never seen the like. Inc
veterans have gone through similar eXper-
ences, but many Of them were slow in bellev-
ing the evidence of their own senses. Ihey
are catching on, however. The wheat ueal
was tumultuous to-day. The pit was hlled 10
the stopping over point and trade was lively.
Nav closed Yesterday at s4Isc. 1t sold about
noon to-day at S5c, but broke later 10 S4sse
At the top p. H. Wear & Co., John NJ. Shaw
4 Co. and others sold out large lines of wheat
for Western account, presumably for Chicago
and MINNEAPOLIS IF We sold wheat to-day
YOU can bet we had il 10 sell, remarked
Wear. Very few of the Cld heads are selling
wheat in big chunks nowadays unless they
have il to deliver or know where they can put
their hands on it. The l O'Clock quotations
marked a I2c gain OH the day. There was
less excitement in corn, except right at the
close, when
EVERYBODY WENT WILD.
but the market ruled buoyantly strong after
the first twenty minutes and an advance OF
nearly lie was established, May climbing
from 5lIac 10 53Isc and the less popular
options following the leader At no time
since the boom commenced has there been
less miscellaneous corn for sale. Buyers
had 10 bid for every bushel that changed
hands, Last prices were at the top. Oats
sold up TO 327sc and there was an active de
mand for this long neglected cereal. Pro
visions were the only thing on the list that
acted badly. The market was nervously
strong in spots and closed bulgy at the top,
but il looked tired TO the observers of the pit
until il was whooped up on the advance in
corn. The spectators have been the only
buvers for the past week. The packers have
been the sellers. and they have the stuff TO
deliver. For the past few weeks there has
been forced manufacture of pork which is
relatively higher than any other class of
product, and the packers have sold as fast as
the stuff was made The l o clock quota
lions are at practically high water mark get
touched on this boom. On the day wheat
showed an Improvement at ! o'clock of 5sc,
corn ls4c: oats, s4c; pork, 21l2c; lard, ,32l2c,
and ribs, 25c.
THE ROUTINE REPORT.
CHICAGO Dec l-When the board of trade
opened this morning the grain markets were
booming and values were considerably
higher than yesterday. The bull fever was
on with almost the entire local speculative
crowd, and all were buyers al The start Inc
rise i'll corn seemed 10 nave substantial
foundation. as cash corn at New York was
lI2c higher. and cables reported the Liver
pool market as tending up. May wheat
opened at S45sc, against yesterday close al
S4Isc May corn opened at 0l5sc, against
clcse of 5lh@5I$sc. May pork opened
slightly higher at Sl5.23. Oats shared in the
general advance and were l4c higher at 32l2c
for May Trading in all of the grains was on
n very large scale but pork was not as active
as usual. In nearly all the pits opening
prices were quickly improved on. One firm
let 20 about 500, 600 long wheat early in the
day 1t was absorbed by the crowd gener-
ally. The local buying put May up 10 soc
early in the day, but by little after noon it
had reacted 10 S13sc. The volume OF trade
was heavy all over the floor. il dld not take
corn long TO make clear advance OF lac
over Yesterday closing. but this was q frac-
ton less than 1c over the opening to-day;
sales at 52I4c for May were not very heavy,
though considerable changed hands on
country account. 1t is noticeable that this
element are still free buyers and big ones,
on ANYTHING that looks like a weak spot.
From 52I2c the price was worked back 10
52I4c toward the end OF the morning session,
keeping pretty steadily between that and
53ssc. There was quiet kind Of a trade i'll
provisions and moderate range made.
January pork fell back from $l160 10
Sl4 80, but subsequently recovered 10
Sl4 72i2 on quite brisk local buying toward
the close.
The leading futures ranged as follows:
Wheat-No 2, December, opened at T1c,
closing at 17I2c; January, a l4c, closing at
77Isc; February, 1SSsc, closing at lSSci
December, opened at l6S4c, closing AT a sc;
January 471sc. closing at t4Sl4c: May, 515sc,
closing at 535sc. Oats-No. >. December,
opened at 2Sssc. closing at 2s7Sc; January,
33Isc. Mess Pork-per Dbl, January, opened
at SI4624, closing at Sl4.S So; February,
S14. .75. closing at SO: May. Sl5.20, closing
at Sl5.42l2. Lard-per 100 lbs, December
ary, 81. 20, closing at S7.I5; February, $50.
closing at S7.55; May, S7.57l2, closing at
S7S5. Short Ribs-per 100 lbs, January
opened at 81 .42l2 closing at S!.G1I2; Febru-
closing at S7.S7l2. Cash quotations were as
follows: Flour, better demand and sales
larger. Wheat-No. spring. 11Q77lsc; No.
3 spring. 66@ 66l2c; No. = red, 77l2c. Corn
2, soc. Barley-No. .. 76c. Flax seed-No.
j. 1.23@1.25. Timothy seed..-Prime, 81 80
@237. Mess pork, per bbl., Sl4.50@14.75.
Lard. per 100 lbs. S7.40@7.45; short rib
sides doose) S7.50@7. .62Ia; dry salted shoul-
iers (boxedD, S5.7O@5.S short clear sides
(boxed), SS0S 10. Whisky Distillers' fin
ished goods, per gallon, Sl.10. Sugar--Cut
loaf. 714@7s4c; granulated. &c bid: standard
"a, 6ssc bid. Receipts-FlOur, "A, 600 bbls;
wheat. $4,000 bu; corn, $4,000 bu.; oats.
IO4, 900 bu; rye, 5000 bu; barley, $4,000
bu. Shipments-FlOur, 81, 900 bbls; wheat,
$1,000 bu: corn, 10000 bu: oats, 10000
bu; rye. 5000 bu; barley, $4,000 bu. On the
produce exchange to-day the butter market
was steady: fancy creamery, 2Sc; fancy
p %